Location: Wayne County, IN | Metro: Wayne County, IN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The ZIP code 47392 presents a unique scenario for real estate investment, particularly when considering it under the lens of Section 8 housing. The analysis is based on the Federal Market Rent (FMR) of $1,230 for the fiscal year 2026, which is the only concrete figure available for the metro area. However, specific market rents and home values are not provided, leading to a partial understanding of the yield potential.
On the yield axis, the FMR of $1,230 suggests a moderate rental income opportunity, assuming that the actual market rent does not significantly exceed this figure. Without the exact market rent and home value, it's challenging to calculate precise yields; however, the absence of these figures implies that the market might be less competitive or have limited data, potentially indicating lower liquidity.
Moving to the stability axis, the ZIP code shows 0.0% of renters participating in the Section 8 program. This low percentage could indicate either a lack of demand for subsidized housing or a limited supply of units that qualify for the program. Additionally, the median household income of $107,664 suggests a relatively stable economic environment, where tenants are likely to have better financial standing, reducing the risk of default or late payments.
The unknown days on market (DOM) further complicates the stability assessment. Typically, a shorter DOM would indicate a more active market with quicker sales, whereas a longer DOM might suggest a slower, more cautious market. Given the high median income, we can infer that the market might lean towards a faster turnover, but this remains speculative without the specific DOM data.
Based on the available data, 47392 appears to be more of a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The presence of higher-income households supports long-term tenancy and regular rent payments, making it suitable for investors looking for consistent returns over time. However, the limited data on market rents and home values means that the potential for significant capital appreciation or short-term flips is unclear.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.